News & Legislation December 22, 2022
     

Regional Property Market Update Autumn 2021: Scotland

Price growth strong across all regions

Annual property price growth in Scotland is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Properties here are selling in just 23 days, the quickest of any region of the UK (Rightmove). 

Double-digit property price growth is evident in 17 areas of Scotland. Shetland Islands and Orkney Islands are currently the strongest performing areas, albeit with a lower sample size.

 

Scotland Autumn regional property market report map UK

 

Surge in sales 

It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase. 

In Scotland, the most active housing markets over the past year have been in Midlothian and East Lothian.

 

scotland_autumn_regional_property_market_report_statistics_uk

 

Space to be

The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.

 

 

VIEW THE FULL SCOTLAND REGIONAL REPORT

 

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Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.

 

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Winter 2022 Market Report: Market Recalibration

Regional Property Market Update Winter 2022: Scotland

Regional Property Market Update Winter 2022: Hertfordshire, Bedfordshire and Cambridgeshire

Regional Property Market Update Winter 2022: West of England

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